Rubin To Pandit: "Let me begin by stressing that I have great respect for you and the job you have been doing in addressing...Citi's complicated challenges.'

To: Citi Employees From: Vikram Pandit and Sir Win Bischoff Sent: Friday, January 09, 2009 5:11 PM Re: Bob Rubin Retirement It is with considerable sadness that we are letting you know that Bob Rubin has decided to retire from Citi. This was not a decision Bob came to lightly, but as he enters his 70s and with all that is now in place at Citi, he believed the time has come for him to deepen his involvement in outside activities and organizations to which he has been strongly committed. Since Bob joined Citi nearly 10 years ago, he has made invaluable contributions to the company. From the beginning, Bob has been instrumental in working with clients around the globe and forging strong relationships for our businesses. He has also been a trusted advisor to senior management and the Board, and we are pleased to say Bob has agreed to continue to be available as a sounding board and resource for us and the company. Please join us in wishing him well and thanking him for his years of service and leadership. Attached is Bob's letter for you to read.